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logoLido Staked EtherSTETH Price#8
$2,577.59
Created with Pixso.6.94%
DescriptionLido Staked Ether, commonly known by its symbol STETH, represents a groundbreaking innovation in the world of decentralized finance, specifically addressing the complexities of Ethereum’s proof-of-stake consensus mechanism. As an ERC-20 token, STETH allows users to participate in Ethereum staking without the need to lock up their ETH or maintain a staking infrastructure. This liquid staking solution provided by Lido Finance enables users to stake any amount of Ether and receive STETH in return, which accrues staking rewards daily. The primary advantage of holding STETH is its liquidity. Unlike traditional Ethereum staking where staked ETH is locked and inaccessible until specific network upgrades, STETH remains liquid. This means holders can utilize their STETH across various decentralized finance protocols, opening up opportunities for additional yield generation, such as lending, borrowing, or providing liquidity on decentralized exchanges. This interoperability significantly enhances capital efficiency for Ethereum stakers. Lido Finance operates as a decentralized autonomous organization, or DAO, ensuring transparency and community governance over the protocol. When users stake ETH with Lido, their assets are distributed among multiple professional node operators, mitigating single points of failure and contributing to the decentralization and security of the Ethereum network. The value of STETH is designed to reflect the underlying staked Ether plus any accumulated staking rewards. While STETH trades freely on open markets and its price can fluctuate relative to ETH, its fundamental design ties its value closely to the staked Ether. This innovative approach to liquid staking has made STETH a cornerstone asset in the DeFi ecosystem, providing a flexible and accessible way for individuals to participate in securing Ethereum while maintaining full control and utility over their staked capital. The mechanism ensures that staking rewards are continuously reflected in the increasing balance of STETH held in a user's wallet, making it a dynamic and yield-bearing asset.
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Detailed Analytics

fireTokenomics
Total Supply9,785,853 STETH
Max Supply0 STETH
Circulating Supply9,785,853 STETH
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Mainnet / TestnetNo records found
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Consensus MechanismNo records found
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